530 Fifth Avenue Is Sold for $595M (Crain’s)

The owners of 530 Fifth Ave. have closed on the $595 million sale of the building to a partnership of Thor Equities, RXR Realty and General Growth Properties, sources told Crain’s.

The 500,000-square-foot building was sold by a partnership between Rockwood Capital, Jamestown, Murray Hill Properties and Crown Acquisitions that purchased the building in 2011 for a reported $390 million. The partnership was represented by Douglas Harmon and Adam Spies of Eastdil Secured, who originally marketed Rockwood’s share of the building before eventually selling the whole thing.

Eastdil had also represented the previous sellers in the 2011 transaction.

The 26-story building runs for a full block along Fifth Avenue from West 44th to West 45th streets. The property was built in 1957.

Published: October 24, 2014
Filed Under: Acquisition

The RXR platform manages 74 commercial real estate properties and investments with an aggregate gross asset value of approximately $17.7 billion, comprising approximately 23.7 million square feet of commercial operating properties and approximately 6,000 multi-family and for sale units in various stages of development in the New York Metropolitan area as of September 30, 2017, adjusted for transactions through October 18, 2017. Gross asset value is compiled by RXR Realty in accordance with company fair value measurement policy and is comprised of capital invested by RXR and its partners, as well as leverage.